M&S Current Account

  • Access to an arranged overdraft that suits your needs at account opening (subject to status). Interest rates apply.
  • No monthly account fee.

Apply for an M&S Current account Learn more about the Current Account Switch Guarantee and switching bank accounts

Temporary overdraft support

If you continue to be or reasonably expect to be affected financially by the Covid-19 pandemic and you're experiencing a reduction in your income and/or an increase in your outgoings, you can apply for temporary arranged overdraft support on your account(s) for three months. To do this please complete the overdraft support form. You can apply for support until 31 October 2020.

If the overdraft support is applied, we temporarily won't charge interest on the first £500 of arranged overdraft borrowing. Normally we charge interest on arranged overdraft borrowing over £250. Additionally, we'll temporarily charge 19.9% EAR (variable) for any arranged overdraft balances above £500. The normal rate of interest for overdraft borrowing is 39.9% EAR (variable). Once the 3 months completes the standard 39.9% EAR (variable) will then be charged for any arranged overdraft balances above £250.

Find out more information in our FAQs

Representative example: 0% EAR variable on the first £250, 39.9% EAR variable on anything above that, giving a representative rate of 30.5% APR variable (assumed arranged overdraft £1,200).

How does our overdraft compare?

You can compare our overdrafts with other ways of borrowing by looking at the Annual Percentage Rate (APR). APR is the cost of borrowing over a year and lets you compare the costs with other credit products.

These are temporary measures and do not change the account and overdraft contractual terms and conditions, which remain the same.

No interest-free amount applies to Additional Accounts.

We are required to publish the Financial Conduct Authority Service Quality Information for personal current accounts.

To open any of our accounts, a new customer will need to provide us with the documents and information set out in our Keeping you safe page. We may request additional information or documents in individual cases.

You can open an account:
without visiting a branch Yes
where a visit to a branch is required, without an appointment In some cases
by sending us documents and information electronically In some cases
by post No

Features and benefits

Arranged Overdraft

Available at account opening (subject to status). The first £250 of any arranged overdraft is interest free. Overdraft interest is charged at 39.9% EAR variable on all balances over £250 and up to any arranged overdraft limit.

M&S Visa Debit Card

Our Visa debit card can be used at over 38 million locations in over 200 countries and it comes with contactless technology built in.

Internet Banking

Manage your accounts online, check balances and transactions, pay bills and make payments.

M&S Loyalty Scheme

Earn 1 point for every £1 spent on your M&S Visa Debit Card in M&S (in store and online) through the M&S Loyalty SchemeM&S Loyalty Scheme.

M&S Banking App

Quickly keep track of your current account spending on the go with our easy to use app. Available on compatible devices.

Representative example: 0% EAR variable on the first £250, 39.9% EAR variable on anything above that, giving a representative rate of 30.5% APR variable (assumed arranged overdraft £1,200).

The M&S Current Account is subject to status and account conduct. You must be aged 18 or over.


Can I switch my account on a date that suits me?

Yes, you can select and agree a date with your new bank or building society and the process will start 6 working days before that date. Working days are Monday to Friday, excluding bank and public holidays.

What is the Current Account Switch Guarantee?

The guarantee sets out the key benefits of the service and specifies that you will be refunded any charges and interest incurred on your old or new bank account as a result of a failure of the service. All banks and building societies that display the Current Account Switch logo offer the Current Account Switch Service and abide by the guarantee.

How does the M&S Bank Debit Card work with Sparks?

Use your M&S Debit Card and Sparks card together when you shop at M&S and earn even more rewards.

How has Sparks changed?

Sparks has become simpler and more rewarding. Points have been removed and exciting new benefits have been introduced instead, like the chance to get surprise treats every time you shop. Sparks may have changed, but your M&S Debit Card points haven’t. You'll still continue to collect points every time you spend at M&S on your M&S Debit Card and receive your M&S reward vouchers every three months.

For more information about Sparks visit the join sparks page.

Ready to apply?

Apply for an M&S Current Account

Apply over the phone:0800 756 7777

Lines are open 8am-8pm Monday to Saturday, 10am-6pm Sunday. Calls are recorded.

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AER is the annual equivalent rate. This is the interest rate you would receive if interest was paid and added to your savings on an annual basis. Gross is the rate of interest if interest were paid and not compounded each year. Interest rates correct as at 15 November 2019. EAR is the effective annual rate.

Calls are recorded.

Learn more about the Financial Services Compensation Scheme(FSCS)